With the amount of foreclosures now (and especialy in a few months) in the city of las Vegas, how long do we have before being forced to move out? January 1st will be my 3rd month skipped in payment. My husband knows a couple of people who are still in the house after 8months without paying the mortgage. Is it the norm?
2007-12-23 07:53:16 · 3 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
Hi Aless,
Are you sure you are in foreclosure? Usually foreclosure proceedings don't start until after the third missed payment. The actual proceedings depend on the lender and the laws in your state. The link is to information on individual state foreclosure laws.
If you got behind as a result of a difficulty that has now been resolved, you would likely be eligible for loss mitigation, meaning something could be negotiated with the lender to repay the unpaid payments instead of just catching up on the loan all at once.
If you want to let me know a little more info, I may be able to help you out.
Take care, and good luck!
2007-12-26 13:35:13 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Its all depends on how busy the banks are. They still have to foreclose, around another month for you, then they assign an agent to offer you Cash for Keys and thats 1 to 2 weeks.
2007-12-24 04:37:34 · answer #2 · answered by Anonymous · 0⤊ 0⤋
It all depends on your mortgage company. Once the sheriff comes out, it's time to go.
2007-12-23 08:01:09 · answer #3 · answered by Big Bear 7 · 1⤊ 0⤋